Legal Cannabis Demand to Grow as California Sales Projected to Impact Market

Thursday, April 12, 2018 Drug News
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NEW YORK, April 12, 2018 /PRNewswire/ -- A recent report by Arcview Market

Research indicates that consumer spending on legal cannabis in North America is outpacing previous estimates. The report emphasizes that retail cannabis sales will grow 33% from 2016, to about $10
billion
this year. The data published projects that by 2021 the legal cannabis market will reach a value of $24.5 billion and at a 28% compound annual growth rate (CAGR). Arcview also stated that according to BDS Analytics' GreenEdge point-of-sale tracking service, the medical industry in California is already as big as the total markets in Colorado, Washington, and Oregon combined. Starting January 1st, California has started legal sales of cannabis products for recreational use. Snipp Interactive Inc. (OTC: SNIPF), Freedom Leaf, Inc. (OTC: FRLF), PotNetwork Holdings, Inc. (OTC: POTN), Medical Marijuana, Inc. (OTC: MJNA), Future Farm Technologies Inc. (OTC: FFRMF)

A report by CNBC quotes MedMen CEO and co-founder Adam Bierman, who explains the current state of the industry, "There is so much excitement now around legalization nationally coming in Canada. There is so much excitement about the fact that California, Nevada, Maine and Massachusetts all legalized recreational marijuana… The Canadian public markets offer access to a lot of capital, with a lot of certainty and a lot of speed, and there is this appetite among global investors to invest in a U.S. play… Specifically, global investors want to invest in a U.S. play that has California exposure. Now is the time where it makes the most sense."

Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Last month the company announced that it, "has received broad interest from a variety of Cannabis companies from across the spectrum of the industry including industry leaders like Aphria Inc., WeedMD and others. Over 10 companies have signed up for the center since launching just last week. The Company recently launched the Cannabis Resource Marketing Centre ("CMRC"), which brings together all of the accumulated knowledge that Snipp has acquired in designing and launching marketing programs in regulated industries, namely:

  1. Alcohol - Beer, Wine, Spirits
  2. Pharmaceuticals - Over the Counter (OTC) and Prescription Drugs
  3. Tobacco - Cigars, Cigarettes, Tobacco
  4. Arms & Ammunition - Small Arms, Guns, Bullets
  5. 3-Tier Tax Systems - Manufacturer to Distributor to Retailer

The goal of the CMRC is to also help Cannabis marketers hit the ground running and take advantage of the deep expertise and flexible technology platforms engineered by Snipp for these regulated industries, thereby enabling cannabis-related companies to more easily launch sophisticated solutions that are legally-compliant. To sign up and qualify the company has made available a simple application process that can be accessed at http://www.snipp.com/CMRC.

"We are extremely excited to see so many quality companies like Aphria Inc. sign up to our CMRC and learn the tactics that their counterparts in the Alcohol, Tobacco and Pharma companies have used for decades to drive awareness, trial, market share and retention. To succeed in what is going to be a highly competitive future, it is vital for companies in the Cannabis space to adopt and build on these best practices and not re-invent the wheel," said Atul Sabharwal, CEO of Snipp. "Given our rich history in and knowledge acquired supporting multiple leading companies in such historically regulated industries like Alcohol and Pharma, I am sure companies signing up for the CMRC will see immediate value in their membership and begin exploring deeper relationships with Snipp to enable their marketing objectives. Today we service multiple leaders including many Fortune 500 brands in Alcohol, Tobacco and Pharma because of our secure, flexible and scalable technology platform that enables a multitude of program types to solve a diverse set of problems for these clients. We welcome qualified companies to join and explore our resource center and engage with us in a deeper conversation to help drive their business objectives." Visit the Snipp website at http://www.snipp.com/ for Snipp's full suite of solutions and examples of Snipp programs."

Freedom Leaf, Inc. (OTCQB: FRLF) is a leading, go-to resource in the cannabis, medical and recreational marijuana, CBD and industrial hemp industries. It is involved in mergers and acquisitions in these industries, including acceleration and spin offs of new companies involved in those industries. Freedom Leaf Inc.'s flagship publication is Freedom Leaf Magazine, The Good News in Marijuana Reform. The company produces a portfolio of news, print and digital multi-media verticals, websites, and web advertising, for the ever-changing emerging cannabis, medical marijuana and industrial hemp industry. The Company also controls LaMarihuana.com, the world's leading Spanish publication focused on these industries. In March, the company announced that it has hired Purdue University Biomedical Engineering graduate Nick Shi to oversee the Leafceuticals Inc hemp extraction, distillation and refining laboratory in North Las Vegas. Leafceuticals Inc is Freedom Leaf's wholly-owned extraction and manufacturing division that uses NuAxon CO2 supercritical extraction to manufacture wholesale hemp CBD oil, terpenes, rare cannabinoids, and other valuable byproducts of industrial hemp.

PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiary, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. Recently, the company announced record breaking sales performance for March 2018. With over $2.2 million in sales revenue recorded across the month, the company has posted a 152% year over year increase when compared with March 2017. With over $6.3 million in revenues recorded for Q1 of 2018, PotNetwork Holdings, Inc. is well on track to exceed its performance in 2017. The company's wholly owned subsidiary, Diamond CBD, Inc. has been aggressively exploring new business development opportunities. In March 2018, the company presented its products at the high profile industry leading trade shows ASD Market Week and Global Pet Expo. As a provider of the highest quality CBD hemp oil products, Diamond CBD, Inc. continues to attract new customers in verticals such as petcare products which are allowing the brand to differentiate itself in the market.

Medical Marijuana, Inc. (OTC: MJNA) is the first-ever publicly traded cannabis company in the United States. Earlier this month, the company announced that both the Company and its subsidiary Kannaway® booked the largest-ever (unaudited) sales revenue in its history in March of 2018, as well as reached major milestones in its business operations. "March, 2018 was the largest revenue month in the history of our Company.  We look forward to sharing our full 2017 results in our Annual Report which will be filed this month," said Medical Marijuana, Inc. CEO Dr. Stuart Titus.

Future Farm Technologies Inc. (OTCQX: FFRMF) is rapidly becoming a leading indoor plant growth technology company specializing in LED lighting, mobile applications and vertical farming solutions for the cannabis industry. In March, the company announce that it has signed a Letter of Intent to acquire a 50% interest in and to enter into a definitive joint venture agreement with CEPG Consulting and Design Inc. of St John's, Newfoundland. The joint venture is formed to begin operations for a cannabis and hemp breeding program under its previously announced joint venture with Rahan Meristem Ltd., a world renown global agro-biotechnology company incorporated in the State of Israel. The joint venture will operate out of both an existing building and 6,000 square feet of newly constructed laboratories. CEPG will apply for a dealer license from health Canada, which will enable research and development to begin on the growth of cannabis plants. Once licensed, the R&D facility will use state-of-the-art controlled environment equipment and techniques to create a research hub for the Rahan and Future Farm JV, which is expected to create valuable IP to be sold worldwide.

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